Aston Martin, the British-based sports car maker which counts James Bond among its customers, said Wednesday it will cut up to 295 jobs -- more than 10 percent of its workforce.
"The upper limit of affected positions is 295," the company said in a statement, adding that the planned cuts would make the company "more efficient and appropriately resourced".
The company employs 2,100 people.
Aston Martin said it hoped to minimise compulsory redundancies by offering early retirement, voluntary redundancies and not filling vacancies.
"Production and sales targets for this year remain unchanged, and Aston Martin will continue to design, develop and engineer new models," it said.
Aston Martin said last week the cuts would mostly be in administration jobs rather than production at its Gaydon plant in central England.
The 102-year-old company is clocking losses and is planning to diversify production including with electric cars, British media reported.
Name (required) *
E-mail (required, but will not be published) *
Notify me of follow-up comments
Cleveland pitcher Corey Kluber and catcher Roberto Perez humbled the hard-hitting Chicago Cubs in Tuesday's World Series opener, but will be called…
The facade of the world's tallest building, the Burj Khalifa in the Gulf emirate of Dubai, was lit up in pink Thursday…
It took just seven days for "Wizard of Oz" nostalgics to raise more than $300,000 in a crowdfunding drive to restore Dorothy's…
Powered and Developed by FilmMatters
Copyright © 2016 Arabtoday